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By that measure, the problem is the pricing of energy, not Bitcoin.
by ISL 7y ago
By that measure, the problem is the pricing of energy, not Bitcoin.
- spookthesunset 7y agoDoesn’t work that way. Bitcoin’s block reward system is designed so that the systems energy consumption costs are basically some percentage of the price of bitcoin. The higher the price, the more energy used. Drop the price of energy, and all rational miners will just buy more hardware. Why? If they don’t, their competitors will and the odds of them getting block rewards will go down.
- ISL 7y agoI'm arguing the opposite -- if energy cost more, less energy would be consumed by Bitcoin.